Research Article
Role of Money in Smaller Pacific Island Countries
Table 6
Long-run estimates for price in four PICs.
| | Country | LM2 | LIR | LER | Diagnostic tests |
| | Samoa | 0.438*** (17.869) | −0.550*** (−4.404) | −0.556*** (−4.531) | JB = 9.808 [0.2787]; AR(1) = 8.336 [0.9382]; AR(2) = 10.771 [0.8233]; | | Solomon Islands | 0.299*** (5.182) | −0.323*** (−3.579) | −0.641*** (−5.382) | JB = 7.519 [0.4818]; AR(1) = 11.390 [0.7848]; AR(2) = 12.970 [0.6749]; | | Tonga | 0.679*** (33.350) | −0.346*** (4.546) | −0.488*** (6.919) | JB = 7.937 [0.4396]; AR(1) = 15.929 [0.4579]; AR(2) = 15.632 [0.4789]; | | Vanuatu | 0.527*** (15.429) | −0.033 (−0.746) | −0.237* (−1.98) | JB = 12.088 [0.1473]; AR(1) = 12.314 [0.7221]; AR(2) = 13.986 [0.5997]; |
|
|
Notes: Refer to Table 5.
|
